China announced new anti-dumping duties on European brandy, particularly focusing on French cognac. Tariffs will range from 27.7% to 34.9%, effective for five years and not retroactively applied. Some major cognac producers may be exempt if they maintain prices above specific levels. This decision follows China's investigation into imported brandy after the EU probed Chinese subsidies for electric vehicles, highlighting increased trade tensions between China and the EU, as well as with US allies.
China has imposed anti-dumping duties on European brandy, specifically targeting French cognac, amid escalating trade tensions between Beijing and US allies.
The tariffs will range from 27.7% to 34.9% and will be effective for five years, but will not be applied retroactively.
Chinese authorities have agreed to exempt major cognac producers if they keep their prices above certain minimum levels.
The announcement arose during discussions aimed at resolving trade differences, signaling growing economic tensions between China and the EU over trade practices.
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